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RESOLUTION NO. 2014 - 11 A RESOLUTION OF THE CITY OF MOSCOW, IDAHO, A MUNICIPAL CORPORATION OF THE STATE OF IDAHO, FOR REIMBURSEMENT TO CITY OF REIMBURSABLE EXPENDITURES AND COSTS RELATING TO THE CAPITAL IMPROVEMENTS TO THE CITY'S DOMESTIC WATER SYSTEM (HEREINAFTER OFFICIAL INTENT PURSUANT TO SECTION 1.150-2, CPR); PROVIDING THIS RESOLUTION TO BE EFFECTIVE UPON ITS PAS SAGE, APPROVAL, AND PUBLICATION ACCORDING TO LAW. WHEREAS, the CITY OF MOSCOW, IDAHO (the "City"), pursuant to judicial confirmation, obtained authorization to enter into a loan agreement with the Idaho Department of Environmental Quality ("DEQ") and/or to issue its promissory notes, bonds, or other evidences of indebtedness (collectively referred to herein as the "Bonds") to finance the costs of the design, acquisition and construction up to four million, two hundred ninety five thousand dollars ($4,295,000) in capital improvements to the City's domestic water system serving the City's residents, including design, development and construction of a production well and associated transmission mains, and replacement of existing booster pump stations and water line (collectively, the "Project"); and WHEREAS, upon issuance of the Bonds, the City reasonably intends to reimburse itself for certain expenditures on the Project (the "Reimbursable Expenditures") incurred within sixty (60) days prior to the date hereof, or (ii) after the date hereof but prior to the issuance of the Bonds. NOW, THEREFORE, IT IS RESOLVED as follows: Section 1. The purpose of this Resolution is to permit the City to reimburse itself from the proceeds of the Bonds for Reimbursable Expenditures not exceeding four million, two hundred ninety five thousand dollars ($4,295,000) plus costs relating to the Project incurred up to sixty (60) days prior to the date of this Resolution, or after the date hereof but prior to the issuance of the Bonds. Section 2. Prior to the issuance of the Bonds, the City intends to incur and pay for Reimbursable Expenditures with its available funds, and hereby declares its intent and reasonably expects to reimburse itself for those Reimbursable Expenditures from the ·proceeds of the issuance of the Bonds not later than eighteen (18) months after the later of the date of the Reimbursable Expenditures, or (ii) the date the Project is placed in service but no later than three years after the date of the Reimbursable Expenditures. Section 3. The maximum principal amount of the Bonds expected to be issued to finance the Project is four million, two hundred ninety five thousand dollars ($4,295,000) plus costs. REIMBURSEMENT RESOLUTION 2014-11, P. 1 May 19, 2014 41743.0004.6557839.1 ---PAGE BREAK--- Section 4. This declaration of official intention is made pursuant to Section 1.150-2, Code of Federal Regulations. Section 5. The officials of the City are hereby authorized and directed, for and in the name and on behalf of the City to take any and all actions and execute, acknowledge and deliver any and all agreements, instruments or other documents and revisions or corrections thereof and amendments thereto, as may in their discretion be deemed necessary or desirable to carry out the terms, provisions and intent of this Resolution. " q<-fl.. PASSED AND APPROVED this _ day of By: t2 . cJOw, {mbert, Mayor ATTEST: By: REIMBURSEMENT RESOLUTION, P. 2 41743.0004.6557839.1